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Solana SOL/USD meme coin Popcat POPCAT/USD is showing strength, prompting traders to predict more outperformance in the near term.

He stated, "all cat beta is going to full send. This includes the small caps, mid-caps, etc." This implies a broader market movement among cryptocurrencies associated with the ‘cat’ theme.

Sherpa added, "Cats have some catch up to dogs this cycle and I'm accumulating a bunch of them." This implies a potential shift in the crypto market, with ‘cat’ themed cryptocurrencies possibly gaining ground over their ‘dog’ themed counterparts.

Crypto trader Scient termed Popcat as the most bullish chart in all cryptocurrencies. He predicts that a hold above the red line will lead to a 30% breakout and a drop below it will show a 30% correction.

$POPCAT, Probably the most bullish chart in all of crypto rn.

• Hold above the red line, and we will see another 30% pop soon.

• Lose the red line, and we see a 30% correction.

I am in from 0.4 so I would want it to go up xD pic.twitter.com/T0qCDkMQTF — Scient (@Crypto_Scient) October 4, 2024

Why It Matters: With a rapid surge of around 78% in one month, Popcat's valuation has crossed $1 billion mark and now ranks seventh on the meme coin board. Dogecoin DOGE/USD and Shiba Inu SHIB/USD have underperformed the new star, with one-month gains of 11% and 31%, respectively.

Trader Freddie Strom compared Dogwifhat WIF/USD and Popcat, saying that WIF surged more than 300% after its market capitalization crossed $1 billion and Popcat could follow a similar path.

Coingecko data shows the valuation of cat-themed meme coins crossing the $3 billion mark, with a 7% increase over the past 24 hours. The top three meme coins include Popcat, Mog Coin MOG/USD and cat in a dogs world MEW/USD currently reporting gains above 10% in past 24 hours.

What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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